TRENDING:
EUR/USD
GBP/USD
XAU/USD
Trade War
USD/CAD
AUD/USD
Sponsored by
Login
|

Ripple Price Analysis: XRP/USD short-term recovery is capped by 1-hour SMA50

  • Ripple's XRP regained ground after the sell-off.
  • The recovery towards the intraday high is limited by 1-hour SMA50.
Ripple Price Analysis: XRP/USD short-term recovery is capped by 1-hour SMA50
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

XRP/USD tested the intraday high at $0.2243, but the upside proved to be unsustainable as the price of the third-largest digital asset retreated below $0.2200 and touched the intraday low at $0.2166. At the time of writing, XRP/USD is changing hands at $0.2180. Despite the retreat, the coin is moving within a short-term bullish trend amid high volatility. 

XRP/USD: Technical picture

On the intraday charts, XRP/USD used the middle line of the 1-hour Bollinger Band as local support and a backstop that limited the decline and attracted new short-term buyers to the market. Meanwhile, the upside is limited by $0.2200 and 1-hour SMA50 at $0.2210. Once it is out of the way, the upside is likely to gain traction with the next focus on the intraday high at $0.2243.

On the downside, a sustainable move below $0.2160 will increase the selling pressure and expose 1-hour SMA100 at $0.2130 followed by $0.2100.

XRP/USD 1-hour chart


Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

More from Tanya Abrosimova
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Aave Price Forecast: AAVE primed for breakout as bullish signals strengthen

Aave Price Forecast: AAVE primed for breakout as bullish signals strengthen

Aave (AAVE) price is trading above $204 at the time of writing on Friday and approaching the upper boundary of its descending parallel channel; a breakout from this structure would favor the bulls.

Meme Coins Price Prediction: DOGE, SHIB, PEPE stall amid warming retail demand

Meme Coins Price Prediction: DOGE, SHIB, PEPE stall amid warming retail demand

Meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), struggle to regain strength as the broader cryptocurrency market recovers. Derivatives data reveals fresh retail demand as Open Interest of DOGE, SHIB, and PEPE futures surge.

Terraform Do Kwon gets 15-year prison sentence for role in Terra-Luna $40 billion crash

Terraform Do Kwon gets 15-year prison sentence for role in Terra-Luna $40 billion crash

Terraform Labs founder Do Kwon was sentenced to 15 years in prison by a New York federal court on Thursday for his role in organizing one of the largest cryptocurrency frauds in history.

Top 3 Price Prediction: BTC and ETH eyes breakout, XRP steadies at support

Top 3 Price Prediction: BTC and ETH eyes breakout, XRP steadies at support

Bitcoin (BTC) and Ethereum (ETH) are nearing the key resistance levels at the time of writing on Friday, and a successful breakout could open the door for a fresh rally. Meanwhile, Ripple (XRP) is stabilizing around a crucial support zone, hinting at a potential rebound if buyers maintain control.

Orange Juice Newsletter – Smart insights by real people. Every day.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.